H&M reorganisation puts 250 UK jobs at risk
Around 250 jobs are potentially at risk at H&M’s UK head office as the fashion and home retailer implements a reorganisation.
According to reports, employees were informed of a proposed reorganisation and consultation process in April, although roles at H&M’s stores across the country are unaffected.
Subscribe to TRBHowever, H&M said the figure of 250 refers only to the number of staff informed about the process and, while those roles are currently at risk, this does not necessarily reflect any final number of job losses.
An H&M spokesperson told Drapers: “As we announced in connection with the publication of our latest annual report, we are implementing organisational changes in our sales markets and within the central sales organisation,
“We have further reduced organisational complexity and brought decision making closer to our customers”
The spokesperson also said that the process is ongoing and did not give an update on the number of roles that could be affected.
In the six months to 31 May, H&M’s operating profit rose by 14% to SEK 8.1 billion (£631 million), although net sales fell by 1% to SEK 104,4 billion (£8.1 billion).
